Pay what you want (or PWYW, also referred to as value-for-value model) is a pricing strategy where buyers pay their desired amount for a given commodity. This amount can sometimes include zero. A minimum (floor) price may be set, and/or a suggested price may be indicated as guidance for the buyer. The buyer can select an amount higher or lower than the standard price for the commodity. Many common PWYW models set the price prior to a purchase (ex ante), but some defer price-setting until after the experience of consumption (ex post) (similar to tipping). PWYW is a buyer-centered form of participatory pricing, also referred to as co-pricing (as an aspect of the co-creation of value). Motivation PWYW models can be sometimes successful as they eliminate many disadvantages of conventional pricing. These models can eliminate fear of whether a product is worth a given set price and the related risk of disappointment (“buyer's remorse”). For sellers it removes the challenging and sometimes costly task of setting the “right” price (which may vary for different market segments). For both buyers and sellers, it changes an adversarial zero-sum conflict centered on price into a friendly win-win exchange centered on value and trust. It also accounts for varying value perceptions and price sensitivities among buyers. While most uses of PWYW have been at the margins of the economy, or for special promotions, there are emerging efforts to expand its utility to broader and more regular use (see "Enhanced forms" below). Further reasons for sellers to implement PWYW pricing include price discrimination and market penetration. Price discrimination occurs automatically in a PWYW model since buyers with higher valuations of the product will choose to pay a higher price. Thus, price discrimination could result in higher revenues for the seller if costs are sufficiently low. PWYW is also an effective tool for penetrating a new market, perhaps to introduce a new brand, as even consumers with a very low valuation can pay small amounts for the same product. The success of PWYW models depends on several factors. A successful PWYW model has a product with a low marginal cost and which can be sold credibly at a wide range of prices, a fair-minded consumer, a strong relationship between the buyer and seller, and a competitive marketplace. Most of times this strategy works much better in digital products or services. Other names include "pay what you